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The MUFG Global Markets Podcast

MUFG EMEA
Federal Reserve
US Dollar
Bank Of Japan
Inflation
Tariffs
Bank Of England
Japanese Yen
Interest Rates
China
Donald Trump
Japan
U.S. Dollar
Yen
Fiscal Policy
US Economy
ESG
Euro
US Elections
CPI
Labor Market

Join the MUFG Global Markets Research Team for expert analysis of the week’s most pressing topics impacting economies and the markets

PublishesWeeklyEpisodes111Founded8 years ago
Number of ListenersCategory
Business

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Latest Episodes

Reaching a deal to extend the ceasefire for 60 days and reopen the Strait of Hormuz is now largely priced. Brent crude oil is down close to 20% from the high on 18th May reflecting the optimism that a deal would be done.

Derek Halpenny, Head of Rese... more

YouTube

Lee Hardman, Senior Currency Analyst, and Henry Cook, Senior Economist, discuss the latest Uk economic and political developments. How has it impacted the outlook for UK rates and the pound?

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The US dollar is heading for its biggest weekly gain since the first week of the US-Iran conflict in early March. This week, Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Julie Ellert, Head of FraBeLux... more

YouTube

Lee Hardman, Senior Currency Analyst, and Seiko Kataoka Fisher, Director in Japanese Customer Sales for EMEA in London, discuss what has been driving the USD lower over the past week . Is intervention from Japan likely to be successful in reversing J... more

YouTube

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Recent Guests

Julie Ellert
Head of FraBeLux FX Sales
MUFG
Episode: US dollar rebounds – yield’s renewed influence on FX
Seiko Kataoka Fisher
Director from Japanese Customer Sales for EMEA in London
MUFG
Episode: How are Middle East risks & intervention contributing to a weaker USD?
Matthieu Gloux
Head of Global Client FX Sales
MUFG Bank
Episode: Oil Eases, Dollars React: What the Strait of Hormuz Reopening Means for Markets
Andrew Mitola
Director in FX Corporate Risk Solutions in New York
MUFG
Episode: What do rising geopolitical risks and crude moves mean for the USD?
Henry Cook
Europe Economist
MUFG Global Markets
Episode: BoE policy outlook, the UK budget and FX and Rates implications
Lloyd Chan
Senior Currency Analyst in Singapore
MUFG
Episode: How hard will Asian currencies be hit by the fallout from a second Trump presidency?
Seiko Kataoka-Fisher
Vice President from Japanese Customer Sales for EMEA
MUFG
Episode: Heightened JPY volatility continues over the summer
Abdul-Ahad Lockhart
Currency Analyst at MUFG
MUFG
Episode: Not all safe-haven roads lead to the US dollar

Hosts

Derek Halpenny
Head of Research, Global Markets EMEA & International Securities
Lee Hardman
Host of MUFG Global Markets FX Week Ahead

Reviews

4.9 out of 5 stars from 54 ratings
  • Amazing

    Love Lee Hardman’s analysis

    Apple Podcasts
    5
    Alfred17123
    United Kingdoma year ago
  • Great

    Excellent overview of current affairs and impact on the markets

    Apple Podcasts
    5
    Luke—
    United Kingdom6 years ago
  • Real insight and knowledge

    Very good insight from Lee and Derek as always

    Apple Podcasts
    5
    brendanmch
    United Kingdom6 years ago
  • I love this!

    I love the voice of the person who does the intros!

    Apple Podcasts
    5
    social piranah
    United Kingdom6 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Strong host pairing; insightful on policy paths.
Well-informed hosts with practical market takeaways.
Covers timely macro signals and FX drivers clearly.
Intro narration is engaging and memorable.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#142
Mexico/Business
Apple Podcasts
#202
Singapore/Business

Talking Points

Recent interactions between the hosts and their guests.

Oil Eases, Dollars React: What the Strait of Hormuz Reopening Means for Markets
Q: What are your views on the immediate implications of the Hormuz reopening for the US dollar?
The move looks dollar-negative in the near term as the market reassesses the energy risk premium, but the overall dollar trajectory will depend on how de-escalation unfolds and whether inflation expectations remain anchored.
How is the energy price shock impacting FX market performance and major central bank policies?
Q: It would be interesting to hear your thoughts, Henry, how you think this changing backdrop in Europe is shaping the ECB thinking ahead of the upcoming policy meeting?
Henry explains that ECB officials have shifted to a more cautious, data-dependent stance with a potential hawkish bias, suggesting a meeting-by-meeting approach while keeping the door open to future rate hikes if inflation and energy-driven price pressures persist.
How has Japan's election results & US data impacted the FX market?
Q: What's your outlook for the Fed policy and the US dollar going forward based on those metrics?
The Fed will continue to cut rates this year, forecasting two to three cuts by the end of the year, but we must remain cautious about the sustainability of recent employment growth trends.
How has the USD been impacted by geopolitical risks?
Q: Do the current fiscal concerns change the expectations for the Bank of Japan's reaction function?
Fiscal concerns could indeed impact the Bank of Japan's actions, particularly in stabilizing the JGB market amid losses of confidence.
How has the USD been impacted by geopolitical risks?
Q: How likely do you think it is for intervention to take place?
There is a sentiment that market participants are becoming increasingly nervous about potential intervention by Japan if the yen continues to weaken.

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Frequently Asked Questions About The MUFG Global Markets Podcast

What is The MUFG Global Markets Podcast about and what kind of topics does it cover?

A market-focused show featuring MUFG researchers dissecting macro trends, FX moves, and policy signals shaping currencies and global rates. Episodes frequently center on US dollar dynamics, central bank policy, energy-price shocks, and geopolitical risks in the Middle East, with nuanced guest perspectives from senior MUFG economists and FX sales specialists. The discussion style blends scenario planning, risk assessment, and cross-asset implications to help practitioners position clients or portfolios. Notable strengths include highly informed, data-driven analysis, clear explanations of complex dynamics, and ongoing attention to policy paths and currency trajectories that matter for institutional audiences.

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Which podcasts are similar to The MUFG Global Markets Podcast?

These podcasts share a similar audience with The MUFG Global Markets Podcast:

1. At Any Rate
2. The Markets
3. Global Data Pod
4. Making Sense
5. Thoughts on the Market

How many episodes of The MUFG Global Markets Podcast are there?

The MUFG Global Markets Podcast launched 8 years ago and published 111 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on The MUFG Global Markets Podcast?

Recent guests on The MUFG Global Markets Podcast include:

1. Julie Ellert
2. Seiko Kataoka Fisher
3. Matthieu Gloux
4. Andrew Mitola
5. Henry Cook
6. Lloyd Chan
7. Seiko Kataoka-Fisher
8. Abdul-Ahad Lockhart

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